Category: Oil & Gas

The Senate has mandated its committees on Petroleum Downstream and Police Affairs to probe alleged role of security operatives in the pipeline explosion in Abia State, where 150 villagers were allegedly killed. The News Agency of Nigeria (NAN) has reported. This followed a motion by Senator Theodore Orji (PDP-Abia) at plenary on Wednesday. Orji lamented…

The Minister of State for Petroleum Resources Dr Ibe Kachikwu, has commended the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) for their contribution on the Petroleum Industry Bill (PIB). According to the News Agency of Nigeria (NAN), Kachikwu gave the commendation at the Department of Petroleum Resources (DPR) PENGASSAN branch 5th Triennial…

By Julianne Geiger The American Petroleum Institute (API) reported a surprise draw of 2.13 million barrels of United States crude oil inventories for the week ending October 12, compared to analyst expectations that this week would see a build in crude oil inventories of 2.167 million barrels. Last week, the American Petroleum Institute (API) reported…

By Javier Blas For 45 years, it’s been considered out of bounds for Saudi Arabia. But suddenly, Riyadh made what many read as a veiled threat to use the kingdom’s oil wealth as a political weapon — something unheard of since the 1973 Arab embargo that triggered the first oil crisis. Saudi Arabia, the world’s…

The Nigerian National Petroleum Corporation (NNPC)  has denied claims that it has  in its custody 3.5 billion dollars Subsidy fund. NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu,  disclosed this in a statement in Abuja on Tuesday. He explained that at the hit of the shortage of products supply at the close…

By Energy Worth Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, on Monday, said there was an urgent need to evolve a sound industry blueprint to energy crisis the country currently faces. Speaking at the 11th Nigerian Gas Association (NGA) conference and exhibition in Abuja, Kachikwu, who was represented by his Senior Technical Adviser on…

International oil giant, Total has inaugurated its new state-of-the-art lubricants oil blending plant, strategically located in the Kaluga region of the Russian Federation. The grand opening ceremony took place on Monday, October 15th, in the presence of Anatoly Artamonov, Governor of the Kaluga Region, and Patrick Pouyanné, Chairman and Chief Executive Officer of Total. This…

The Presidential Committee on Revenue Mobilisation may have jettisoned the revenue reporting and remittances template of the Nigerian National Petroleum Corporation (NNPC), with a new template now underway. A hint on this was given by the Finance Minister, Hajiya Zainab Ahmed, while addressing the media at the concluding sessions of the Annual Meetings of the…

By Esther Abiola Tragedy struck on Friday as a pipeline belonging to Pipelines and Product Marketing Company (PPMC), exploded and burnt over 50 persons to death in Aba, Abia State. It was a gory sight as charred bodies of the victims littered the scene, even as over 30 persons are receiving medical attention at different…

By Julianne Geiger The American Petroleum Institute (API) reported a major build of 9.75 million barrels of United States crude oil inventories for the week ending October 5, compared to analyst expectations that this week would see a much smaller build in crude oil inventories of 2.62 million barrels. The build is the largest build…